On a slightly pedantic note, the bellwire's purpose is not just to provide a 'ring' signal for old POTS phones, it also served the very important role of stopping these old POTS phones from interfering with one another when there were multiple extensions on a single line.
Without the bellwire, pulse dialling can be mistaken by the phones for a ring signal, and indeed it was a common fault in days of old when people hooked up (illegal) diy extensions, wrongly connected or using imported phones, when somebody dialled a number on one phone, the other phones would go 'ting-a-ling' in time with the dialling. The ring signal generated by the microfilter does not address that aspect of the issue.
I'm not suggesting that is likely to be a problem (does pulse dialling even still work?), and I encourage bell wire removal, but I thought it may help if anybody is curious as to why old-fashioned phones didn't just generate their own signal in the first place.
- 7LM